Servicing

The change aims to streamline the processing of certain pandemic-related loan options that accommodate lower monthly payment amounts for borrowers with long-term economic hardships.

The number of loans with payments 90-plus days late but not in foreclosure has fallen below 1 million, but the total is still double pre-pandemic levels, according to Black Knight’s measure.

The residential market is generally healthy, but distress is growing in areas where foreclosures are more common, homes are less affordable, and more properties are underwater, Attom finds.

The remaining 705,000 borrowers with pandemic-related payment suspensions may have complex or recent hardships to sort out, but the majority who had plans have exited them.

The equity commitment by M&G Investments adds to signs that the MSR market is heating up as mortgage rates rise and some buyers have become more confident in their prepayment rate projections.

The coming change will further test the effectiveness of Biden administration policies aimed at putting more affordable properties in the hands of consumers or charitable organizations.

The portfolio of MSRs from three types of government-related loans has a particularly large California concentration, and could be sold on a component basis, according to the Mortgage Industry Advisory Corp.

The Federal Housing Administration has released a statement indicating it’s reviewing allegations by a group of 21 attorneys general that some mortgage companies failed to offer a modification option as required.

The compliance software provider plans to use this funding to add staff and drive customer acquisition.

The Homeowner Assistance Fund was included in the American Rescue Plan Act passed last March and is intended to provide almost $10 billion in aid to homeowners.